The way things are going in the Internet world, a specialization in business devolution might seem a more timely career choice than business development. But if you're willing to whip out your telescope to see the light at the end of the tunnel, you may find good opportunities as a biz dev manager or executive

What's Biz Dev All About?

For the cynical, the title business development manager is a euphemism for salesperson. To be sure, most biz dev professionals are ultimately responsible for contributing to the bottom line by generating leads and closing profitable sales. But some business development folks, especially in the Internet sector, take on higher-level duties, including:

• Assessing potential partnerships, mergers and acquisitions.
  
• Developing contracts and performing due diligence.
  
• Managing relationships with strategic partners.
  
• Acting as a liaison between clients and the in-house IT department.
  
• Serving on product development teams.
  
• Doing consultative sales.
  
• Creating a brand image in a specific market.

Compared to conventional sales, "business development is more creative and requires thinking in a more unstructured way," says Paul Lipman, vice president of business development at Enviz Inc., a business intelligence tool provider in Redwood City, California.

What's the Job Like Today?

With revenues stagnant or shrinking at many dotcoms, biz dev pros are feeling heavy pressure to produce results -- and fast. But "when the market is tight and potential partners are more conservative, deals can take six months to close instead of three," says Shayne Gilbert, president of Web consultant Silverweave Inc. in Boston.

So here's the rub: Business development managers are charged with building long-term relationships, not just closing single sales, in an economic and business environment where results are expected immediately.

On the other hand, when dotcoms consider deals with vendors as potential partners, the ante has been lowered because vendors are much hungrier than they were in 2000. "It no longer takes a seven-figure commitment to get strategic attention" from software, hardware and telecom vendors, says Barry Turbow, executive vice president at Myrient Inc., an outsourcer of comprehensive IT and telecom services in Aliso Viejo, California.

What Are Hiring Managers Looking For?

When Lipman hires for his business development staff, he's looking for people who, working in a novel business environment, can quantify return on investment in presentations to top management and the board of directors. The candidates most likely to meet this test are, for example, business analysts at consulting firms and planners at technology companies.

Other important skills are persuasion and negotiation. A business development manager needs "the ability to position and differentiate the company from its rivals and tell the value proposition story in a convincing way to a potential customer or partner," Lipman says.

Hiring and firing have been on the minds of executives at Myrient, which grew quickly to 250 employees and more recently sacked all but 50 workers. "We were very sales-heavy, so most of our cuts came from that area," including business development, says Turbow.

The bottom line: "People who weren't paying for themselves on a monthly basis had to be laid off," Turbow relates. So when times get tough, qualifications for business development managers can look a lot like the requirements for plain old salespeople.

How Much Can You Make?

Business development professionals whose performance is measured strictly by sales are likely to be compensated accordingly. At Myrient, biz dev people earn $55,000 to $60,000 plus uncapped commissions, says Turbow.

Across the industry, strategic biz dev professionals typically earn a higher base plus bonus and equity but not commissions, according to Lipman. At the manager level, salaries of $65,000 to $85,000 are typical. Directors may earn $100,000 to $130,000; vice presidents earn $140,000 and up.

Is this a good time to go for a job in business development? If you're creative, savvy, lucky and willing to hustle, it could be a ground-floor opportunity. Just be aware that your biz dev career may detour to the basement before heading for the penthouse.